Glo-Bus Chapter 4 Exam Questions and Answers Latest Update 2024 Already Passed
When a company gains the experience and know-how to perform an activity consistently well and at an acceptable cost, it is said to have - Answers a competence in performing that activity
According to Figure 4.5 and th...
When a company gains the experience and know-how to perform an activity consistently well and at an
acceptable cost, it is said to have - Answers a competence in performing that activity
According to Figure 4.5 and the related discussion, one option a company has for achieving competitive
advantage is by out-managing rivals in - Answers performing certain differentiation-enhancing value
chain activities more proficiently than rivals, thus creating a differentiation-based competitive advantage
keyed to delivering what customers perceive as a superior product offering
Which of the following is not one of the six questions that comprise the task of evaluating a company's
collection of resources and capabilities, the competitiveness of its prices and internal operating costs,
and its competitive strength versus rivals - Answers What are the the company's most profitable
geographic market segments?
According to Figure 4.1, which of the following is NOT pertinent in identifying a company's present
strategy? - Answers The number and type of core competencies a company has and the kinds of
activities that comprise its value chain
Which of the following is NOT one of the objectives of benchmarking - Answers To learn which company
in an industry is using the greatest number of best practices in performing its value chain activities and
thus very likely has the industry's lowest cost value chain
Which of the following is an accurate interpretation of the overall competitive strength ratings that
result from doing a competitive strength assessment (as illustrated in Table 4.3 and explained in the
accompanying discussion)? - Answers The higher a company's overall competitive strength score/rating
the stronger is its competitiveness and ability to compete successfully against rival industry members;
low scores signal weak competitiveness and probable competitive disadvantage compared to rivals with
higher scores
In Table 4.2, which one of the following is not an example of a potential market opportunity that a
company may have? - Answers Launching initiatives to try to block the entry (or likely entry) or new
competitors (especially lower-cost foreign firms) into those geographic markets where the company
earns big profits or have a big market share
The competitive power of a company resource or capability is NOT measured by which of the following
tests - Answers Does the resource or capability help the company improve the cost efficiency of its value
chain?
The three steps of SWOT analysis are - Answers identifying the company's resource strengths and
weaknesses and its opportunities and threats, drawing conclusions about the company's overall
business situation, and translating the conclusions into strategic actions and an overall strategy that is
well-matched to the company's overall situation
, In Table 4.2, which of the following is NOT an example of a potential weakness or competitive deficiency
that a company may have? - Answers A product offering that is not strongly differentiated from rivals
Which of the following statements about company value chain is false? - Answers Identifying the
primary and secondary activities that comprise a company's value chain and comparing these activities
to the value chain activities of rivals is called benchmarking
According to the illustration in Table 4.3 and the accompanying discussion, the methodology for doing a
weighted competitive strength assessment entails - Answers Determining the most telling measures of
competitive strength or weakness (which usually include most of the industry's key success factors),
assigning weights to these measures, rating each company's strength on each measure (often using a
scale of 1-10), multiplying each company's strength rating by its respective weight, and summing the
weighted scores to get an overall competitive strength score; the company with the highest weighted
score is the competitively strongest and the company with the lowest weighted score is the weakest.
A company's value chain identifies - Answers the primary activities it performs in creating value for its
customers and the related support activities.
Which of the following is most likely to represent a company's most potent resource or capability? -
Answers A distinctive competence in performing a competitively important value chain activity
SWOT analysis is a powerful tool for - Answers Sizing up a company's competitively important strengths
and weaknesses, its market opportunities, and the external threats to its future well-being
Which of the following is NOT an option for lowering costs of distribution-related activities? - Answers
Implementing an activity-based accounting system for all distribution related activities and ceasing to
perform all those distribution-related activities having unacceptably high costs
The three main areas in the value chain where significant differences in the costs of competing firms can
occur include - Answers the costs of internally-performed activities, the costs off activities performed by
suppliers, and the costs of activities performed in the forward part of the industry value chain (especially
distribution related activities).
In a weighted competitive strength assessment (like that shown in Table 4.3), the sum of the weights
should add up to - Answers 1.0
Which of the following is central to the task of identifying the strategy-related issues and problems that
merit the front-burner attention of company managers? - Answers Compiling a "worry list" or "how
to..." "whether to..." and "what to do about..." that serves as an agenda of strategically relevant
issues/problems that managers need to address in crafting a refurbished strategy to fit the particulars of
the company's external and internal situation.
In Table 4.2, which of the following is NOT an example of an external threat to a company's future
profitability? - Answers Having too few resources and capabilities that are well-matched to the
company's available market opportunities
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